I am an end user and am interested in buying a 3BHK for self and family use at Dwarka. For the last 7 months I have been studying the prices and availability, and am surprised to see that prices are actually softening.

My friends suggest that I should hurry up otherwise prices will go UP, but many houses which I saw 5-6 months back are either at the same price or below the earlier quote. NOW I AM GETTING GREEDY and feel the realty slowdown will result in further fall of prices at Dwarka. I am not sure, and would like to seek the advise of experienced people in this forum.

However, one thing I have very carefully observed that more than 30% apartments in over 80,000 flats in entire Dwarka are unoccupied even till date. Besides this 100 societies are complete and are not cleared by Registrar of cooperative society. Sooner or latter these 15000 flats will also be added.

Friends, I have actually gained by waiting 7 months. Would you advise me to wait more for further down fall of Dwarka property.
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  • Originally Posted by Swaran
    I am an end user and am interested in buying a 3BHK for self and family use at Dwarka. For the last 7 months I have been studying the prices and availability, and am surprised to see that prices are actually softening.

    My friends suggest that I should hurry up otherwise prices will go UP, but many houses which I saw 5-6 months back are either at the same price or below the earlier quote. NOW I AM GETTING GREEDY and feel the realty slowdown will result in further fall of prices at Dwarka. I am not sure, and would like to seek the advise of experienced people in this forum.

    However, one thing I have very carefully observed that more than 30% apartments in over 80,000 flats in entire Dwarka are unoccupied even till date. Besides this 100 societies are complete and are not cleared by Registrar of cooperative society. Sooner or latter these 15000 flats will also be added.

    Friends, I have actually gained by waiting 7 months. Would you advise me to wait more for further down fall of Dwarka property.

    I think the same is applicable all over - in Mumbai, Pune, NCR, and to an extent at Bangalore. But don't expect any big fall overnight. But in such a dicey state of real estate across country, it makes sense to WAIT
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  • What are the current rates in Dwarka?

    I had noticed that rents in Dwarka are much lower than that in Noida whereas selling rates being quoted are much higher as compared to Noida.
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  • Originally Posted by amarakbar
    What are the current rates in Dwarka?

    I had noticed that rents in Dwarka are much lower than that in Noida whereas selling rates being quoted are much higher as compared to Noida.

    The rates are pretty high - about 7000 to 8000 psf (All inclusive), and rents are much lower than Noida or Gurgaon because Dwarka is just for residence - there are no jobs here. In fact it is surprising to see that such a big sub-city has only one shopping mall. You can get a 3BHK for 15K rent.
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  • Dwarka comes in zone D which has seen some drop from its peak. However, the trend varies with location even in same city.
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  • Originally Posted by amarakbar


    Dwarka comes in zone D which has seen some drop from its peak. However, the trend varies with location even in same city.

    Thanks for posting the graph. It clearly shows that real estate prices at dwarka are falling
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  • Yes, prices have started falling in Dwarka also. A flat which was quoted at 60 L in 2009 was changing hands at 1.25 CR in early 2011. After such a steep rise in such a small time the prices are cooling because of more RTM houses . Many societies where allotment was not done are also in the fray now. Not exactly an over supply, but supply is still more than demand . Besides Dwarka has problems like water supply and crime
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  • Since last 3 months, I was in the process of disposing of one 3BHK and was planning to purchase one 3 BHK with better facilities and gentry.

    My observation, when I disposed and gave dealer 3 months, priceses are nearly at the same or raised by 3-5%. The problem is that not enough end user in the market.

    Then I was following to buy by adding more money and whatever I was interested, prices were going up every week. A flat which was available for 1.30 Cr just 2 months back but I was not having the money in hand as my own flat for sale was not disposed off is now costing 1.48 Cr.

    I am telling this my actual expereince. where I am a seller and buyer of a 3.BHK in Dwarka.

    This is my expereince of last three months of Dwarka flats.
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  • You are right - there are not enough end users in Dwarka and many flats are held by financiers or investors. But I still do not agree that prices have gone up by 5% in few months. The flats in newly allotted societies are also not getting good premium - perhaps the reason is that new buyer cannot register for 3 years. Is there a rule like this?
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  • Originally Posted by Sharmeela
    You are right - there are not enough end users in Dwarka and many flats are held by financiers or investors. But I still do not agree that prices have gone up by 5% in few months. The flats in newly allotted societies are also not getting good premium - perhaps the reason is that new buyer cannot register for 3 years. Is there a rule like this?

    The flats in newly socities are not getting good premium, there are two types of socities here, one is self draw socities and some are still under Investigations. Any society which has a clear title and good surrounding is getting premium.
    Eg just go to 99 acres or magic bricks and search by keyword God Craft society, or Modest Ketki or any other and in that you will get latest price as demanded and go further down 2-3 months as the ad is old and expired but rates you can see what price was coated.
    My expereince, if it is for self use, anytime is better time.
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  • Originally Posted by sharmafire
    The flats in newly socities are not getting good premium, there are two types of socities here, one is self draw socities and some are still under Investigations. Any society which has a clear title and good surrounding is getting premium.
    Eg just go to 99 acres or magic bricks and search by keyword God Craft society, or Modest Ketki or any other and in that you will get latest price as demanded and go further down 2-3 months as the ad is old and expired but rates you can see what price was coated.
    My expereince, if it is for self use, anytime is better time.

    Thanks, you already know a lot of Dwarka. A friend of mine got allotment in Kesarwani society - sector 5, plot-4. The allotment is through registrar. He is trying to sell his flat at 2nd floor. it is 3BHK 1440 sqft with 3 bathroom road facing flat. The flat is in totally raw condition - as construction was completed 6 years back and allotment was awaited. At least 6-7 lakhs will be needed to make it livable. Physical possession given but possession letter has not been given so far. My friend is expecting 1.25 CR but not getting anyone . What do you think will be the right price ? Please share your view
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  • Originally Posted by Sharmeela
    Thanks, you already know a lot of Dwarka. A friend of mine got allotment in Kesarwani society - sector 5, plot-4. The allotment is through registrar. He is trying to sell his flat at 2nd floor. it is 3BHK 1440 sqft with 3 bathroom road facing flat. The flat is in totally raw condition - as construction was completed 6 years back and allotment was awaited. At least 6-7 lakhs will be needed to make it livable. Physical possession given but possession letter has not been given so far. My friend is expecting 1.25 CR but not getting anyone . What do you think will be the right price ? Please share your view

    Cheked through 99 acres website, the flat price listed in that society for sale is much higher then your friend expectation. Let him give this advt in 99 acres , magic bricks and other websites which is free and sure he will get either the customer or many dealers but he can sell it easily.
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  • Dwarka has a serious problem of water. The TDS is around 1500 means the water is very hard. Apart from this the water table is consistently going down, and in future most of the bore holes may go dry or much deeper boreholes may have to be dug
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  • DDA is regularly allotting societies struck by CBI and an avalanche of fresh supply of houses is flooding the already oversupplied Dwarka property market . With so many sellers and no buyers around, it is becoming increasingly difficult for brokers to hold on to the price.
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  • only reality check is happening currently, the real crash is yet to come...... 1cr+ prices for a 2bhk is completely unsustainable in a place like Dwarka........shud see a 30% correction at least in next 1 year........ investors have no business entering at such absurd prices and end-users shud exercise extreme patience to reap rich rewards going forward......
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  • Originally Posted by McLordGanj
    DDA is regularly allotting societies struck by CBI and an avalanche of fresh supply of houses is flooding the already oversupplied Dwarka property market . With so many sellers and no buyers around, it is becoming increasingly difficult for brokers to hold on to the price.

    i would want to know about the locality and the area because after the property is bought, nothing can be done about that. would you kindly guide me regarding that.
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